Shares of the pharma major, Wockhardt spiked nearly 2% as the company announced that it has received USFDA’s nod for piperacillin and tazobactam.

The ANDA of piperacillin and tazobactam for injection USP, 40.5 g/vial, has been approved by the drug regulator. The ANDA was filled in collaboration with Fresinius Kabi, Italy will be manufactured commercially at FKAI, Miami, Italy.

The stock on the NSE hit an intraday high of Rs 747 per share and hit an intraday low of Rs 730 per share on Wednesday. The stock has delivered negative returns of over 23% in a period of one year and has underperformed the BSE Mid Cap and BSE Healthcare index over the same time span.

Wockhardt Limited is a pharmaceutical and biotechnology company and mainly indulges in manufacturing and marketing of pharmaceutical and biopharmaceutical formulations, active pharmaceutical ingredients (APIs) and vaccines.